H World Reveals $2 Billion Shareholder Return Plan

The Macao Government Tourism Office said the average nightly room rate in Macau's five-star hotel segment reached MOP1,582.4 (US$196.80) in the first half of 2024, up 12.4% year on year and a 96.1% recovery to the first half of 2019. There are also a lot more hotel rooms now than there were pre-Covid. Despite all those additional rooms, Macau's average hotel occupancy for five-star hotels was 91.1% for June, up 5 percentage points year on year and was 90.8% for the first six months of this year, up 10.2 percentage points from a year ago. The average occupancy rate across three, four and five-star hotels for the first six months of this year was 89.6% with an average nightly room rate of MOP1,402.8. As of the end of May, Macau had 45,800 hotel rooms of which 28,300 were in the five-star tier. The number of five-star hotel rooms was up 9.5% from May of 2023. The number of overnight visitors rose 29.1% in the first half of the year, not as much growth as the 59.3 percent increase in day trippers. Total visitation was 16.72 million in the first half of the year with nearly 8.89 being day-trippers.

H World Group said their board of directors approved a three-year shareholder return plan with an aggregate amount of distributions that may be made to the company's shareholders of up to $2 billion, effective from July 23. Under the Shareholder Return Plan, the Board has the sole discretion to declare and distribute ordinary dividends semi-annually but it cannot be less than 60% of the company's net income in the financial year; declare and distribute special dividends or make repurchases of ADS pursuant to the Share Repurchase Program. Their new policy in place is the Amended Dividend Policy. The five-year Share Repurchase Program that was approved has an aggregate amount of up to $1 billion, effective August 21, 2024.

Hyatt Hotels Corporation and China Resources Land have unveiled their latest collaboration, a new Park Hyatt hotel in Xi'an, Shaanxi province, China. The project will be strategically situated in the CCBD, a premier, mixed-use commercial complex along Xi'an's central axis. Park Hyatt Xi'an is set to feature 192 rooms and suites, alongside top-tier culinary and wellness amenities. The hotel will have inspiring venues for meetings and events. The hotel will be nestled in the Qujiang District's CCBD project, just under four miles from the Bell Tower in the old city center. Hyatt and CR Land have collaborated before, beginning with the Grand Hyatt Shenzhen in 2009. They have a portfolio of joint venture properties including the Grand Hyatt Dalian, Park Hyatt Hangzhou, Grand Hyatt Hefei, Grand Hyatt Shenyang, Andaz Xiamen and the Andaz Shenzhen Bay.

Marriott International's Courtyard by Marriott brand announced the opening of Courtyard by Marriott Sapporo in Sapporo City, the capital of Japan's northernmost island of Hokkaido, located in the city's Nakajima Park area. The new hotel is the eighth Courtyard by Marriott hotel to open in Japan and the first Courtyard by Marriott hotel in Hokkaido. The new hotel has 321 guest rooms and suites. Guest rooms on the upper floors enjoy views of the ever-changing scenery of the area. Dining venues include The Lounge, located adjacent to the front desk on the ground floor, and the all-day dining restaurant, Substance. The hotel offers a 24-hour fitness center with the latest Technogym machines and there is the exclusive Japanese Spa featuring a modern Japanese-style bath.

Radisson Hotel Group announced the addition of three new hotels in the Philippines, adding more than 450 keys to its portfolio in three first and second-tier destinations – Cauayan City, Olongapo and Dasmarinas, to reaffirm its status as one of the country's leading international hotel groups. The Park Inn by Radisson Cauayan Isabela is a new upper-midscale property that will become the first internationally branded hotel in Cauayan. The hotel will be atop the existing SM City Cauayan Mall, opening in the second quarter of 2027 with 151 rooms, a lobby bar, breakfast restaurant, private dining room, gym, swimming pool, pool deck and lounge, three meeting rooms and a pre-function area. The Park Inn by Radisson Olongapo Central will mark RHG's entry in the coastal city of Olongapo. The hotel will be located next to the SM Olongapo Central Mall and when it opens in Q1 2028, it will have 151 rooms, a lobby bar, a convertible breakfast area and private dining room, swimming pool with a pool deck, lounge and kids' pool. Finally the Park Inn by Radisson Dasmarinas will be an extension of the existing SM City Dasmarinas shopping mall. When the hotel opens in Q4 2027, it will have 151 rooms, lobby bar, a convertible breakfast area and private dining room, grab and go kiosk, swimming pool with a pool deck, lounge and kids' pool.

The National People's Power affiliated Voice Against Corruption Governor has accused the Government of attempting to sell the Hilton Hotel in Colombo, Sri Lanka at a price significantly below its original valuation. Governor Samarasinghe said the hotel was initially valued at $124 million but is now appraised at $55.5 million. He can't understand the drop especially given the Sri Lankan Rupee appreciating against the US dollar. He also can't understand the selling price of $41.5 million for the 300-room hotel. He is accusing members of the President's office of corruption. Last week it was disclosed that only Melwa Hotels & Resorts Ltd. was the one prequalified to bid on the sale of the shares in Hotel Developers (Lanka) Ltd., the owner of the Hilton Colombo.

Lords Hotels & Resorts is advancing its 2024 expansion strategy with the addition of the Redsun Lords Plaza in Bhairahawa, Nepal. The hotel is expected to open in August 2024 and will offer rooms and suites, multi-cuisine restaurant, chic bar, the city's biggest swimming pool, a water park, casino and a spa as well as a spacious banquet hall.

Stotrak Hotels announced the opening of Sangam by Stotrak in Mussoorie in the scenic state of Uttarakhand. The hotel is their fourth in Mussoorie and features 10 valley view rooms, an all-day café and more.

Personnel Moves

Espire Hospitality Group announced the appointment of Shiv Mohan Marwaha as the Head of Business Development. Shiv has worked at Justa, Golden Tulip, Lemon Tree, Zone by the Park, Sarovar Hotels, Fern Hotels and Royal Orchid in the past 17 years.